From Owen Akenzua, Asaba
Delta State Commissioner for Finance, Chief Fidelis Tilije said the state government has no intention of borrowing to fund its over N900 billion proposed 2025 budget.
The commissioner stated this on Monday at the House of Assembly in Asaba, while fielding questions from newsmen shortly after the ministry appeared before the House Committee on Finance and Appropriation to defend its 2025 budget proposal.
Tilije revealed that with prudent management of the state’s resources and with focus on improving Internally Generated Revenue, IGR, through the non-oil sector, there would be no need to borrow in the coming fiscal year, which would in turn boost the state’s debt profile.
He said in 2025, Delta would experience all-round development in pursuance of the vMORE Agenda’, as there would be major economic variables that would drive the system.
The commissioner also revealed that some sectors of the economy like agriculture, health and education would receive full beam light come 2025.
“We will do more in the area of agriculture. There is no reason why each local government area cannot have at least one farm settlement.
“The establishment of farm settlements would check insecurity in our farms, as security would be easily coordinated,” he said.
The 2024 budget performance document released by the ministry revealed that for capital expenditure, the state acquired eight percent equity in UTM Floating Liquified Natural Gas, FLNG, project in 2023.
The actual capital in 2024 was not so high, as the state is yet to undertake any major direct investment.
The ministry, however, pledged to work towards undertaking direct investment come 2025.
It also pledged to continue to sustain the gains of the State Fiscal, Transparency, Accountability and Sustainability Programme, SFTAS, and the State Action on Business Enabling Reforms, SABER.
